Schenectady, N.Y., February 1, 2018 — The owner of 426 State Street in downtown Schenectady will add two new apartments and two offices to the second floor of the complex, Metroplex announced today.
Paul Sciocchetti is the owner of the building located between Bow Tie Cinemas and Proctors on State Street in downtown Schenectady. Pioneer Bank and Aperitivo occupy first floor retail space. The remainder of the 35,000 square foot, mixed-use complex contains office and loft apartments on the upper floors. The building is 100% leased, except for the unfinished space on second floor that Mr. Sciocchetti is now renovating. The 2nd floor work represents an additional investment of $250,000 in downtown Schenectady.
Mr. Sciocchetti said, “We have one office pre-leased and we hope to quickly lease up the other office and the new apartments. This is one of the best locations in Schenectady’s revitalized downtown.”
Ray Gillen, Metroplex Chair said, “This project helped to lead the comeback of downtown. We appreciate this new investment by Paul Sciocchetti that will continue the momentum that is bringing more people to live and work in Schenectady.”
Mr. Sciocchetti is a local attorney and real estate developer. He and his partners also worked with Metroplex to redevelop a long vacant building in the Stockade neighborhood as the Window Factory Lofts.